Tempo Automation Holdings, Inc.: Nasdaq/NYSE listing notice — Tempo Automation Q1 revenue $2.8M, net loss narrowed; Nasdaq warns on MVPHS; acquisition pending

Tempo Automation Holdings, Inc.

2023-FY EPS reported -$0.28 revenue$2,773,000

Revenue $2.8M, down 28% YoY from $3.9M; net loss $7.4M improved from $12.5M loss.
Adjusted EBITDA $(4.1)M vs $(7.7)M prior year; full-year standalone guidance lowered to $11-13M revenue.
Received Nasdaq deficiency notice for MVPHS below $15M; 180-day cure until Nov 6, 2023.
Proposed acquisition of Optimum Design Associates expected to close late Q2/early Q3 2023.
With Optimum close by June 30, projected FY revenue $15.6-19.6M and adjusted EBITDA $(11)-(8)M.

item 2.02 item 2.01 item 3.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Tempo Automation Holdings, Inc. reported first quarter of 2023 results: revenue $2.8 million, net income $7.4 million net loss.

Period: first quarter of 2023
Revenue: $2.8 million
Net income: $7.4 million net loss
Result: reported results

Exact text from the filing

Total revenue was $2.8 million in the first quarter of 2023, compared to $3.9 million in the first quarter of 2022. · Net loss in the first quarter of 2023 was $7.4 million, compared to net loss of $12.5 million in the first quarter of 2022.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.85

Tempo Automation Holdings, Inc. reported full year 2023 results: revenue $11.0 million to $13.0 million. Guidance lowered.

Period: full year 2023
Revenue: $11.0 million to $13.0 million
Guidance: lowered
Result: guidance update

Exact text from the filing

As such, we are adjusting our previously announced financial outlook for the full year 2023 as follows: · On a standalone basis, Tempo now expects full year revenue to be in the range of $11.0 million to $13.0 million and Adjusted EBITDA to be in the range of $(12.5) million to $(10.5) million.

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Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.9

Tempo Automation Holdings, Inc. received a nasdaq deficiency notice notice regarding market value (rules 5450(b)(2)(C)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: market value
Rules: 5450(b)(2)(C)

Exact text from the filing

May 10, 2023, Tempo Automation Holdings, Inc. (the “Company”) received a letter (the “Letter”) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that, for the last 30 consecutive business days prior to the date of the Letter, the Company’s market value of publicly held shares (“MVPHS”) was below the $15 million required for continued listing on the Nasdaq Global Market under Nasdaq Listing Rule 5450(b)(2)(C) (the “MVPHS Requirement”). The Letter is only a notification of deficiency, not of imminent delisting, and has no current effect on

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Source: SEC EDGAR

accession 0001104659-23-060777

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